DEMONETISATION AND ITS IMPACT

Abstract

Nothing is permanent in this world, only change is permanent. Any change has two sides as like coins, but then we should not forget status of our country. The daily wager has no black money because he has no money, the formers of our country have no money, and most of the Indians do agriculture. The main thing is forgotten. Eighty percentages of our brethrens occupation is agriculture, twenty percentages of our brethrens hold great posts like teachers, doctors, engineers, layers, collectors, MLA. MP etc, who also have excess money, it is easy to monitor the twenty percentages and to capture the block money. The simply people who work hard earn less wages made to struggle while the twenty percentage easily made block money into white. This is not happening today it has been going on for a long time. Though there are demerits in demonetisation there are also some merits which will save our country in the future from block money, fake notes, illegal transaction, and benamies. in past many countries have tried this but most of them ended with failures, because much block money made as white which brought many havoc to the countries. Removal of a particular form of currency from circulation is called demonetisation. Demonetization is the changing of a currency unit of its rank as legal tender sometimes, a country completely replaces the old currency with new currency.